State of Alaska Department of Revenue Sells 7,908 Shares of Brady Corporation $BRC

State of Alaska Department of Revenue lessened its stake in Brady Corporation (NYSE:BRC) by 46.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,073 shares of the industrial products company’s stock after selling 7,908 shares during the quarter. State of Alaska Department of Revenue’s holdings in Brady were worth $757,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Ifrah Financial Services Inc. grew its holdings in Brady by 4.9% during the third quarter. Ifrah Financial Services Inc. now owns 3,452 shares of the industrial products company’s stock valued at $288,000 after purchasing an additional 161 shares during the period. QRG Capital Management Inc. increased its position in Brady by 16.9% in the second quarter. QRG Capital Management Inc. now owns 15,141 shares of the industrial products company’s stock worth $1,386,000 after buying an additional 2,193 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Brady by 5.8% in the second quarter. Tidal Investments LLC now owns 17,459 shares of the industrial products company’s stock valued at $1,599,000 after buying an additional 958 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Brady in the second quarter valued at $641,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Brady during the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 76.28% of the company’s stock.

Brady Stock Performance

NYSE:BRC opened at $82.69 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.30 and a current ratio of 1.94. Brady Corporation has a 52-week low of $70.57 and a 52-week high of $99.29. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 19.19 and a beta of 0.61. The business’s fifty day moving average is $87.11 and its 200 day moving average is $87.03.

Brady (NYSE:BRC) last issued its quarterly earnings data on Thursday, September 3rd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. Brady had a return on equity of 19.21% and a net margin of 12.36%. The business had revenue of $436.90 million for the quarter, compared to analysts’ expectations of $427.91 million. During the same quarter in the prior year, the firm posted $1.04 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. Brady has set its FY 2027 guidance at 6.250-6.750 EPS. Research analysts predict that Brady Corporation will post 6.50 EPS for the current year.

Brady Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 9th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Brady’s previous quarterly dividend of $0.2450. The ex-dividend date is Friday, October 9th. Brady’s dividend payout ratio (DPR) is 23.20%.

Insider Buying and Selling

In related news, COO Thomas DeBruine sold 5,739 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $84.00, for a total transaction of $482,076.00. Following the sale, the chief operating officer owned 7,523 shares of the company’s stock, valued at approximately $631,932. This represents a 43.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BRC. Wall Street Zen upgraded Brady from a “hold” rating to a “buy” rating in a research note on Sunday, October 4th. Weiss Ratings upgraded Brady from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Two analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Brady has a consensus rating of “Buy” and an average price target of $103.00.

About Brady

Brady Corporation (NYSE:BRC) is a global manufacturer of identification and workplace safety solutions. Founded in 1914 as W.H. Brady Co in Milwaukee, Wisconsin, the company develops products that help organizations identify equipment, manage facilities, improve workplace safety and comply with operational requirements.

Its products include industrial and facility identification labels, signs, tags, safety and lockout products, wire and cable markers, barcode and RFID solutions, printers, software and specialty materials.